Webster Equity Partners Forms New Gastroenterology Platform “One GI” with Inaugural Partnership with Gastro One

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Waltham, MA (April 7, 2020) – Today, One GI, a gastroenterology management services organization formed by Webster Equity Partners (“Webster”), signed definitive transaction documents for an inaugural partnership with Gastro One, the largest GI practice in the state of Tennessee with 30 physicians and ten sites of care. Headquartered in Memphis, Tennessee, One GI will identify and partner with leading gastroenterology practices seeking a strategic partner to provide capital and management services to help foster growth, drive economies of scale, and deliver the highest quality care to patients.

One GI will be led by Chairman Michael Dragutsky, M.D. and President David Harano. Dr. Dragutsky commented, “This is an exciting time for Gastro One with the formation of One GI. We are proud to partner with Webster to build a physician-centric management services organization that allows gastroenterologists to do what they do best: focus on providing excellent care to patients. Webster’s ability to close this transaction in the thick of the COVID-19 pandemic demonstrates their commitment to this partnership and highlights the increasing importance for independent physicians to join larger organizations.”

David Harano added, “This partnership with Webster comes at a very opportune time. There is real need for physicians to band together to better compete with increasingly larger and more powerful hospital systems and payors. Webster’s deep background in working with physician practices and track record in supporting the development of larger organizations while maintaining the absolute highest standards in clinical excellence and patient service gives us great confidence that we can succeed in building an organization that provides both physicians and patients with a better opinion.”

“Webster has a long history of partnering with physician practices and supporting them in their next phase of growth,” said John Garbarino, Partner, Webster Equity Partners. “We have been following the gastroenterology sector for several years and jumped at the opportunity to partner with Dr. Dragutsky, David, and the Gastro One physicians to launch One GI. We were immediately impressed by Gastro One’s devotion to clinical excellence and patient satisfaction and are excited to help them continue their expansion.”

Jarrod Smith, Principal, Webster Equity Partners, added, “This partnership is an exciting opportunity to build an organization that allows gastroenterologists to preserve their autonomy and protects the independent practice of medicine. Gastro One represents the industry’s best demonstrated practices and we are looking forward to helping Dr. Dragutsky and the team extend the model and associated benefits to other physicians via the One GI platform. We are also thrilled to welcome GI practice management industry veteran Joe Olivo to the team as a member of the Board of Directors.”

Goodwin Procter and Reed Smith served as legal counsel to Webster Equity Partners. Nexus Health Capital acted as exclusive investment banking advisor to Gastro One and Katten Muchin Rosenman served as legal counsel.

About Webster Equity Partners
Founded in 2003, Webster Equity Partners is a private equity firm that partners with healthcare service companies with a focus on high impact growth strategies based on delivering the highest quality care and exceptional service. Webster is currently investing out of its fourth fund with $875 million of committed capital. For additional information on Webster Equity Partners, please visit www.websterequitypartners.com.